Overstock.com 2007 Annual Report Download - page 46
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ITEM 6. SELECTED FINANCIAL DATA
The following selected consolidated financial data as of December 31, 2006 and 2007 and for each of the three years in the period ended December 31,
2007, are derived from our consolidated financial statements included elsewhere in this Form 10-K. The consolidated financial data as of December 31, 2003,
2004 and 2005 and for the years ended December 31, 2003 and 2004, are derived from audited consolidated financial statements, but are not contained herein.
The historical results do not necessarily indicate results expected for any future period. This information should be read in conjunction with "Management's
Discussion and Analysis of Financial Condition and Results of Operations" and the Consolidated Financial Statements and the related notes thereto included
elsewhere in this Form 10-K.
Year ended December 31,
2003 2004 2005 2006(1) 2007(4)
(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenue
Direct revenue $138,134 $213,210 $324,875 $ 303,202 $195,622
Fulfillment partner revenue 100,811 281,425 474,441 484,948 564,539
Total revenue 238,945 494,635 799,316 788,150 760,161
Cost of goods sold
Direct 124,039 184,964 282,383 284,943 164,368
Fulfillment partner 89,190 243,468 400,057 408,407 468,222
Total cost of goods sold 213,229 428,432 682,440 693,350 632,590
Gross profit 25,716 66,203 116,876 94,800 127,571
Operating expenses:
Sales and marketing 20,228 40,559 77,155 70,897 55,458
Technology 2,549 8,509 27,901 65,158 59,453
General and administrative 14,987 22,024 33,043 46,837 41,976
Restructuring(2) — — — 5,674 12,283
Total operating expenses 37,764 71,092 138,099 188,566 169,170
Operating loss (12,048) (4,889) (21,223) (93,766) (41,599)
Interest income, net 461 1,173 (270) 3,566 4,788
Interest expense (76) (775) (5,582) (4,765) (4,188)
Other (expense) income, net 115 (49) 4,728 81 (92)
Loss from continuing operations (11,548) (4,540) (22,347) (94,884) (41,091)
Discontinued operations(3):
Loss from discontinued operations — — (2,571) (6,882) (3,924)
Net loss (11,548) (4,540) (24,918) (101,766) (45,015)
Deemed dividend related to redeemable common stock (262) (188) (185) (99) —
Net loss attributable to common shares $ (11,810) $ (4,728) $ (25,103) $(101,865) $ (45,015)
Net loss per common share—basic and diluted
Loss from continuing operations $ (0.73) $ (0.26) $ (1.16) $ (4.67) $ (1.73)
Loss from discontinued operations $ — $ — $ (0.13) $ (0.34) $ (0.17)
Net loss per common share—basic and diluted $ (0.73) $ (0.26) $ (1.29) $ (5.01) $ (1.90)
Weighted average common shares outstanding—basic and diluted 16,198 17,846 19,429 20,332 23,704
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